The study said the size of Bangladesh television in 2020 reached $636 million and is expected to grow to $687 million in 2021
Locally-manufactured products are dominating the country's television market, holding 52% of its total market share whereas, just a decade ago, Bangladesh was almost fully dependent on imported television to meet its demand.
Of the 52%, Walton holds a lion’s share of 25-27% while Singer (9%) Minister (4%,), Vision (3%), Jamuna (2%), Nova (2%) and other local manufacturers occupy the rest percentage, according to a survey, conducted by Marketing Watch Bangladesh (MWB), A Dhaka University-based non-profit organisation.
The findings of the research were unveiled today at a press briefing held at the conference room of Dhaka University Marketing department.
The research team consisted of the Marketing department chairman and also co-founder of the MWB Prof Mizanur Rahman and another MWB co-founder Associate Prof Md Nazmul Hossain.
The study said the size of Bangladesh television in 2020 reached $636 million and is expected to grow to $687 million in 2021.
Home-made products will be able to occupy 70-80% of total market share very soon if the grey market can be brought under control through taking proper action and formulating rules and regulations as it has been reaming as a concerning issue for the whole industry, said the study.
The grey market products-holding estimated market share of 20%- consist of counterfeit (sticker-based) Chinese products and brands coming through unauthorized channels by a false declaration which make the active players in the industry very much uncomfortable and a bit scared.
The study said local brands are now getting popularity in the country's television market as a result of an increased investment of some home-grown companies, especially the giant Walton.
Currently, Walton TV is the market leader in the industry, holding more than 25-26% market share while the market is highly fragmented, competitive, and saturated as a wide range of international brands have also penetrated the market and made the market intensely competitive along with some counterfeit (sticker-based) Chinese brands.
Among all the international and local players, Samsung is highly likely to emerge as a potential competitor in the upcoming years because of its special focus on R and D and the competitive advantage of TV production in the domestic plant.
Among the local brands, the Vision is likely to do well in the upcoming days due to its strong distribution networks, although its current market share is not up to the mark, said Prof Mizanur Rahman.
“Once used to prefer foreign brands but the situation has changed as local television companies have been getting popular for the last 20 years for many reasons including bringing down the prices of the local brand television devices,” he added.
The researchers came to the result after conducting direct interviews of 2439 television users from eight divisions while 2273 citizen reactions from the websites of five Television companies and 496 feedback from a closed group 'Electronics Product Review Bangladesh' were taken for sentiment analysis.
The television industry in Bangladesh has seen rapid growth in the last two decades and the tendency to purchase television has increased at a large scale in both rural areas and urban cities, for an affordable price.